Ocean Yield As News

Swedish offshore vessel owner Viking Supply Ships has taken delivery of the Andreas Viking AHTS, previously known as the Far Senator.In March 2023, Viking Supply Ships said it would take two Ocean Yield-owned AHTS vessels, Far Senator and Normand Statesman, on bareboat charters for a period of five years, with purchase options during the charter period, and an obligation to purchase the vessels at the end of the charter period if requested by Ocean Yield AS. The company, that owns and operates a fleet of offshore supply and icebreaking vessels…

Ocean Yield announced it has entered into an agreement to purchase four LR1 product tankers, to be built at Guangzhou Shipyard International (GSI) in China for delivery in 2026 and 2027.The vessels will be built with a design enabling them to be converted to dual-fuel operation with methanol as fuel.Upon delivery, the ships will be employed on 15-year bareboat charters to petrochemical company Braskem. The charter rate will have a variable element linked to the respective vessel's actual carbon emissions…

Ocean Yield has agreed to purchase four LR1 product tankers, to be constructed at Guangzhou Shipyard International (GSI) in China.The vessels will be built with a design enabling them to be converted to dual-fuel operation with methanol as fuel. Upon delivery (in 2026 and 2027), the vessels will commence 15-year bareboat charters to guaranteed subsidiaries of Braskem S.A., a global petrochemical company listed on the New York Stock Exchange and based in Brazil. Braskem S.A. currently has credit ratings of BBB- from S&P and Fitch…

After a slowdown in activity during 2020/2021 due to soft commodity prices, demand for FPSOs is picking up.With exploration hotspots like Namibia’s Orange Basin and the East Mediterranean delivering new finds, the FPSO market outlook is healthy. But shipyard capacity constraints are beginning to weigh on delivery, leading to cost concerns. Furthermore, FPSO demand is competing for yard space with other construction projects.To mitigate delay risk and cost overruns, some E&Ps have reviewed their FPSO procurement strategies.

Norwegian shipowner Ocean Yield on Friday announced it has finalized order details for a series of new Newcastlemax bulk carriers.The company announced in December 2022 that it had agreed to acquire a minimum of five and a maximum of 10 vessels with expected delivery dates between Q1 2025 and Q2 2026.Ocean Yield now revealed it has agreed with the charterer that the final transaction scope will be eight or nine vessels, with expected delivery dates between Q3 2024 and Q4 2025.Upon delivery…

Norwegian offshore vessel owner Solstad Offshore has sold the anchor-handling tug supply vessel Far Sabre for an undisclosed fee.The 2008-built vessel has been in layup since 2019. Delivery of the vessel to the new owner took place on Tuesday. Solstad did not say who the buyer was."The sale of the vessel will result in a minor positive accounting effect to be reflected in 1Q 2023," Solstad Offshore said.Earlier on Tuesday, Solstad said it would redeliver two anchor handlers to owner Ocean Yield upon the expiration of their current contracts.

Anchor handling specialist Viking Supply Ships will take two Ocean Yield-owned AHTS vessels, Far Senator and Normand Statesman, on bareboat charters for a period of five years. The vessels have since October 2020 been on a charter with Normand Chartering, a subsidiary of the Norwegian offshore vessel firm Solstad Offshore ASA. Solstad said it would redeliver the vessels to Ocean Yield at the end of their current commitments. Viking Supply Ships said in a separate statement that it would…

Höegh Autoliners through its subsidiary Höegh Autoliners Shipping AS, declared an option pursuant to a certain bareboat charter party to purchase the vessel Höegh Tracer for a purchase price of $53.2 million from Ocean Yield. The average market value of the vessel estimated by three different brokers was $82 million by the end of Q2 and different financing options for the vessel are being evaluated.Höegh Tracer was built in 2016 with a capacity of 8,500 CEU. The vessel has been…

Ocean Yield, which describes itself as a ship-owning company with investments in vessels on long-term charters, has agreed to buy a 5,500 TEU container vessel newbuilding under construction at HJ Shipbuilding, Korea. The vessel design enables it to be converted to dual fuel operation with methanol as fuel. Delivery of the vessel is expected in May 2023. Upon delivery, the vessel will start a seven-year time charter contract to ZIM Integrated Shipping Services Ltd., which will…

Nordic American Tankers said it has added two suezmax tankers to its fleet. The newbuilds, NAT's first delivered since 2018, both have long term contracts.The 157,094 dwt Nordic Harrier was delivered on May 13 from Samsung shipyard in South Korea. The second vessel, to be named Nordic Hunter, is 156,800 dwt and will be delivered from Samsung within the next few days, NAT said. The ships were ordered in 2020.Both tankers have six-year contracts with Oman's ASYAD Shipping Company. The time charters will generate an aggregate revenue of more than $100 million, New York-listed NAT said when it announced the deals in February.The newbuilds are fully financed via Ocean Yield, a company controlled by Kohlberg Kravis Roberts (KKR), which is headquartered in the U.S.

Norwegian shipowner Ocean Yield announced it has agreed to purchase a 5,500 TEU containership under construction at HJ Shipbuilding in South Korea. The vessel is built with a design enabling it to be converted to dual fuel operation with methanol as fuel.The newbuild is scheduled to be delivered in November 2023.Upon delivery, the vessel will commence a seven-year time charter contract to Israeli ocean carrier ZIM, Ocean Yield said, adding that the charter will add approximately $80 million to its EBITDA backlog.

Tanker shipping company Nordic American Tankers on Friday took delivery of a suezmax newbuild from shipbuilder Samsung Heavy Industries in South Korea.The 157,000-dwt crude oil tanker is named Nordic Harrier, which was the first NAT ship when becoming stocklisted on the New York Stock Exchange in 1995.The ship, which is on a 10-year bareboat charter to NAT from Norwegian shipowner Ocean Yield, will commence a contract for six years to ASYAD Shipping Company of the Sultanate of Oman. "The contract is producing earnings and cashflow as from delivery from the yard, creating financial stability and a further foothold in this important area," New York-listed NAT said in a letter to investors and shareholders.

New York-headquartered tanker shipping company International Seaways, Inc. on Tuesday announced it has signed agreements with Ocean Yield ASA (“Ocean Yield”) for the refinancing of six vessels in sale leaseback transactions.The bareboat charter-in lease agreements for the six modern scrubber-fitted very large crude carriers (VLCC) Seaways Tybee, Seaways Triton, Seaways Cape Henry, Seaways Hendricks, Seaways Liberty, and Seaways Diamond Head are for a period of 10 years with purchase obligations at expiry.The transactions are expected to fund in early November 2021 and result in financing of approximately $375 million, which will be used to replace the current $228 million Sinosure facility, with the balance intended for general corporate purposes.

U.S.

French shipping firm Louis Dreyfus Armateurs has sold the "La Loirais" bulk-carrier to an unnamed third party. The news of the sale was shared by Ocean Yield.Vessel owner Ocean Yield and Louis Dreyfus Armateurs in 2018 entered a long term charter for the handysize dry bulk vessel that should've kept the vessel busy until March 2030."Louis Dreyfus Armateurs has declared an option to sell La Loirais to an unrelated third party and the transaction was completed today,"Ocean Yield said it would receive proceeds of USD 16.2 million and record a small book profit from the sale.The 39,800 dwt vessel was built in China by Jiangmen Nanyang Ship Engineering in 2018.

Luxembourg-based marine services company Jan De Nul Group has agreed to buy the offshore construction and cable-lay vessel Connector from Ocean Yield. The vessel will be officially transferred during the fourth quarter of 2020.The Connector, previously known as Lewek Connector, is an advanced subsea construction & cable-lay vessel that was operating on a long-term bareboat charter until February 2017. Ocean Yield has, expecting a market recovery, for the past years traded the vessel in the short-term market.

Norwegian ship owner and operator Ocean Yield ASA has taken delivery of three long range 2 (LR2) product tankers built in China.The three LR2 product tankers are Navig8 Pride (2018-built), Navig8 Providence (2018-built) and Navig8 Prestige (2019-built). The vessels were acquired from a major Chinese leasing company with about 9 year’s remaining bareboat charters to Navig8 Topco Holdings Inc.The fourth vessel, the “Navig8 Precision” is expected to be delivered next week. All four vessels are fitted with scrubbers and built in 2018 and 2019.Following the latest acquisition, Ocean Yield’s fleet currently comprises about 70 vessels.Ocean Yield ASA is a ship owning company with investments in vessels on long-term charters.

The provider of marine transportation of dry bulk commodities Scorpio Bulkers has agreed to sell and leaseback two Ultramax vessels (SBI Cronos and SBI Achilles) and one Kamsarmax vessel (SBI Lynx) to Ocean Yield ASA for a total financing consideration of $62.8 million.Upon completion, which is estimated to take place in the first quarter of 2020, the company’s liquidity is expected to increase by up to $33.6 million after the repayment of outstanding debt.The company will also be able to drawdown on an additional tranche of up to $4.5 million in aggregate for installation of exhaust gas cleaning systems (“scrubbers”) on the three vessels.As part of the agreements…

Nordic American Tankers (NAT) told investors on Friday that it has lined up full financing for two new tankers on order from South Korea's Samsung Heavy Industries. The newbuilds are the first to be ordered by NAT since 2016.The shipowner said it entered into a financing agreement with a subsidiary of Ocean Yield ASA for the Suezmax pair, which are due for delivery in the first half of 2022. "It is an advantage to secure the long term financing for these two newbuildings at an early stage and with an existing lender," NAT said, adding it aims to become a debt free company.The financing is for up to 80% of the newbuilding price, and the agreements are based on a 10-year bareboat charter for each vessel.

Norway's offshore service vessels (OSVs) supplier Solstad Offshore and its creditors have agreed on a draft restructuring plan, which includes converting 10 billion crowns ($962.17 million) of debt into equity, the company said on Tuesday.The large majority of stakeholders, including secured lenders, leasing companies, industrial shareholders and key bondholders plan to sign a binding agreement by the end of April, the Oslo-listed firm added in a statement."We are entering a period…

Ocean Yield said it has taken delivery of the kamsarmax dry bulk vessel SBI Lynx which it purchased and is leasing back to Scorpio Bulkers on a 12-year bareboat charter.In February, Scorpio announced it agreed to sell and lease back SBI Lynx along with Ultramax vessels SBI Cronos and SBI Achilles to Ocean Yield for $62.8 million total.The Ultramax vessels were handed over to Ocean Yield in March. SBI Cronos will be on bareboat charter for nine years and SBI Achilles for of 10 years.Scorpio maintains several purchase options during the charter period and upon the expiration of each agreement.

Höegh Xiamen car carrier has been declared "a constructive total loss" following a fire that broke out on the vessel in early June in Jacksonville, USA.The Höegh Xiamen car carrier is owned by Ocean Yield and is on a bareboat contract to Höegh Autoliners. The fire broke out on June 4, shortly after the vessel had completed loading operations at Blount Island, Jacksonville, Florida. It was extinguished late on June 12.During the initial response, several firefighters sustained serious injuries.Ocean Yield which on Friday said the vessel had been declared a total loss…

Shipowner Ocean Yield has completed the sale of the Navig8 Amessi chemical tanker to Navig8 Chemical Tankers.Navig8 Chemical Tankers Inc. had in January declared the purchase option on the 2015-built chemical tanker. It was then said Navig8 would pay USD 26.5 million for the transaction.Ocean Yield on Wednesday said the transaction for the Hyundai-built tanker was successfully completed."Following repayment of the bank debt on the vessel, the transaction will give net cash proceeds of about USD 9.7 million for Ocean Yield. The transaction is not expected to have any impact on the net results for Q3 2020," Ocean Yield said.According to MarineTraffic, the Navig8 Amessi is currently at anchor near Panama City, Panama, waiting to pass through the Panama Channel.